She trained at the Italia Conti Academy. Her television debut was in the children's series Going Out before in March 1982 joining the cast of Coronation Street as the Faircloughs foster daughter Sharon Gaskell. During her time in the Street, Tracie turned twenty-one and passed her driving test, even though the examiner was a fan, he gave her an extra hard test to ensure fair play. In 1984 Tracie left the series and went on to play television roles in Black Silk, Unnatural Causes, The Rector of Stiffkey, Knock Knock, Relative Strangers, Boon, The Refuge, The Ritz, The Bretts, Alas Smith & Jones and Brush Stokes, although returned for another stint in the Street in 1999.
Tracie played Malandra in the comedy film Shirley Valentine alongside Joanna Lumley, Julia McKenzie, Pauline Collins, Ken Sharrock, Bernard Hill, Tom Conti and Alison Steadman. She then joined the BBC series Making Out as lesbian manageress Norma. Other film roles includes Tina in Knights and Emeralds and Ana in Deep Red Instant Love.
On stage Tracie has appeared in Carousel, She Stoops To Conquer, One For The Road, Dead Funny, Putting On The Ritz, Grease, Chicago, Blood Brothers and Educating Rita. In 1995 she won the Laurence Olivier Award as best supporting actress in She Loves Me.
In a successful career more television roles followed as Stella in Yorkshire Television's Gingerbread Girl, Monica in Made In Heaven, Nikki in Rich Tea and Sympathy, Mrs Howell in All Creatures Great and Small, Michelle in The Upper Hand, Tracy in BBC 2's Joking Apart and Liz in BBC's Next of Kin. Other television appearances include The Ruth Rendall Mysteries, The Bill and Casualty.
After a 21 year absence, Bennett returned to the show again as Sharon in April 2021. She originally intended to return in 2019, but her busy schedule, coupled with the COVID-19 pandemic in 2020, meant the plans were pushed back by 18 months.
Tracie is single and lives in London.